RUA Life Sciences PLC Distribution Agreement with Corcym (7463N)
25 1월 2023 - 4:00PM
UK Regulatory
TIDMRUA
RNS Number : 7463N
RUA Life Sciences PLC
25 January 2023
25 January 2023
RUA Life Sciences Plc
("RUA ", the "Company" or the "Group")
Distribution Agreement with Corcym
RUA Life Sciences plc, the holding company of a group of medical
device businesses focused on the exploitation of the patented
long-term implantable biostable polymer, Elast-Eon(TM) , is pleased
to announce that it has signed an agreement with Corcym SRL
("Corcym"), a global medical device company focussed on the
structural heart area, to bring RUA's range of large bore vascular
grafts to market.
Corcym and RUA have signed a global distribution agreement that
grants Corcym the exclusive rights to commercialise RUA's large
bore straight and aortic root grafts for heart surgeons. Corcym
will leverage its sales team and network already serving the needs
of the surgeon, who will use the graft products.
To provide Corcym with the necessary flexibility to maximise
market penetration, a novel partnership model has been agreed
whereby rather than agree specific price points by territory, the
partnership ethos of the agreement will see RUA and Corcym share
the gross margin achieved on global sales on a 50:50 basis.
Corcym is a global medical device company focused on serving the
needs of heart surgeons and their patients. Corcym's current
product portfolio includes a wide range of heart valves and heart
repair products. Corcym has a commercial presence servicing heart
surgeons in over 100 countries.
RUA has a pipeline of vascular grafts in development for the
repair of diseased and damaged blood vessels, including the
thoracic aorta. The total global market size for the pipeline
products is estimated by RUA to be around $1 billion annually.
These products include large bore straight and aortic root grafts
together with specialised products for aortic arch repair. The
regulatory strategies and plans for the pipeline products have been
agreed and RUA anticipates a number of regulatory approvals from
2025 through 2027, allowing Corcym to commercialise the grafts.
Bill Brown, Chairman of RUA said: "The mutual benefits of this
partnership with Corcym are transformational for RUA. Not only does
it validate our belief in the product range but it is backed up
with Corcym's capacity and capabilities to make the graft range
available to heart surgeons globally."
Christian Mazzi , CEO of Corcym added : "Corcym is excited to
partner with an innovative company like RUA to commercialise the
aortic graft range. Corcym's mission is to help cardiac surgeons
treat patients better, today and in the future, and RUA's aortic
graft range will be an important addition to the product portfolio
we can offer Heart Surgeons worldwide."
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the UK version of the EU Market Abuse Regulation (2014/596) which
is part of UK law by virtue of the European Union (Withdrawal) Act
2018, as amended and supplemented from time to time.
For further information contact:
RUA Life Sciences
Bill Brown, Chairman Tel: +44 (0)1294 317073
Caroline Stretton, Group Managing Director
Cenkos Securities plc (Nominated Adviser and Broker) Tel: +44 (0)20 7397 8900
Giles Balleny / Max Gould (Corporate Finance)
Michael Johnson (Sales)
About RUA Life Sciences
The RUA Life Sciences group was created in April 2020 when RUA
Life Sciences Plc (formerly known as AorTech International Plc)
acquired RUA Medical Devices Limited to create a fully formed
medical device business. RUA Life Sciences is the holding company
of the Group's four trading businesses, each exploiting the Group's
patented polymer technology.
About Corcym SRL
Corcym is a global, independent, medical device company entirely
focused on state-of-the-art surgical solutions to fight structural
heart disease. Corcym has a presence in more than 100 countries
with approximately 850 employees and ensures strong continuous
support to patients, healthcare professionals and healthcare
systems worldwide. For more information, please visit
www.corcym.com .
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